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Daily market update: Feb. 29, 2016

Mortgage rates plus all the latest daily real estate market news

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We’ll add more market news briefs throughout the day. Check back to read the latest.

National Association of Realtors Pending Home Sale Index (PHSI) for January 2016:

  • The PHSI declined 2.5 percent to 106.0 in January.
  • This is 1.4 percent above January 2015 (104.5).
  • The index has increased year-over-year for 17 consecutive months, but January’s gain was the second-smallest.

Black Knight Financial Services’ Home Price Index for December 2015:

  • The home price index in the U.S. was $253,000.
  • This is down 0.1 percent month-over-month.
  • However, the index is up 5.5 percent year-over-year.

Mortgage rates:

 

Home equity rates:

Last week’s most recent market news:

Federal Housing Finance Agency’s mortgage rate results for January 2016:

  • The national average contract mortgage rate for previously owned homes was 3.98 percent, up from 3.97 percent in December.
  • The average interest rate on all loans was 3.97 percent, up from 3.96 in December.
  • The average loan amount was $310,400, down from $318,000 in December.

Federal Housing Finance Agency’s fourth-quarter 2015 house price data:

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  • House prices rose 1.4 percent quarter-over-quarter in the fourth quarter of 2015.
  • Year-over-year, prices were up 5.8 percent.
  • The FHFA seasonally adjusted monthly index for December was up 0.4 percent month-over-month.

Email market reports to press@inman.com.